Brown & Brown (NYSE:BRO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Brown & Brown (NYSE:BRO - Get Free Report) had its price objective boosted by investment analysts at Wells Fargo & Company from $115.00 to $125.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective suggests a potential upside of 20.82% from the stock's previous close.

Other research analysts have also issued research reports about the company. Barclays increased their target price on Brown & Brown from $108.00 to $119.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 21st. Morgan Stanley initiated coverage on shares of Brown & Brown in a report on Thursday, December 5th. They set an "overweight" rating and a $134.00 target price on the stock. StockNews.com lowered shares of Brown & Brown from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. Truist Financial upped their price objective on shares of Brown & Brown from $116.00 to $118.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their target price on shares of Brown & Brown from $98.00 to $104.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $113.00.

Brown & Brown Trading Down 1.5 %

Shares of BRO stock traded down $1.56 during trading hours on Wednesday, reaching $103.46. The company's stock had a trading volume of 284,535 shares, compared to its average volume of 1,622,802. The firm's fifty day simple moving average is $105.63 and its 200 day simple moving average is $104.08. Brown & Brown has a one year low of $75.79 and a one year high of $114.15. The stock has a market capitalization of $29.58 billion, a P/E ratio of 28.19, a P/E/G ratio of 2.12 and a beta of 0.85. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52.

Brown & Brown (NYSE:BRO - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a net margin of 22.65% and a return on equity of 17.12%. Equities research analysts expect that Brown & Brown will post 3.74 EPS for the current year.

Institutional Trading of Brown & Brown

Hedge funds have recently bought and sold shares of the company. Mogy Joel R Investment Counsel Inc. lifted its stake in shares of Brown & Brown by 324.3% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 19,285 shares of the financial services provider's stock worth $1,967,000 after purchasing an additional 14,740 shares during the period. Sanctuary Advisors LLC increased its holdings in Brown & Brown by 4.4% during the third quarter. Sanctuary Advisors LLC now owns 161,569 shares of the financial services provider's stock valued at $18,104,000 after buying an additional 6,805 shares during the last quarter. Quantbot Technologies LP bought a new position in Brown & Brown in the third quarter worth approximately $9,832,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Brown & Brown by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,315,654 shares of the financial services provider's stock worth $136,302,000 after acquiring an additional 17,934 shares during the last quarter. Finally, Peak Financial Advisors LLC bought a new stake in shares of Brown & Brown during the 4th quarter valued at $3,037,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Brown & Brown Company Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.

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